The German engineering and technology giant's supervisory board is due to approve the deal Monday and make an announcement this week, Germany's Financial Times cited people familiar with the talks as saying.

The Munich-based company declined to comment on the Financial Times report, but said board members would be talking about the unit's future ahead of the next scheduled meeting in July. Shares of Siemens were up 1.8 percent to 61.35 euros (75.39 US dollars) in afternoon trading in Frankfurt.